It was reported that Mahindra is all set to buy the troubled South Korean automaker Ssangyong Motor Company. In the process, they beat 5 other bidders including Renault and Ruia Group of India.
This comes as a major acquisition since it is for sure going to fuel the growth of Mahindra in global markets where the company is trying hard to make its presence felt. What would be exiting enough for Indian markets would be the cars and the technology that Ssangyong brings in and how Mahindra are able to incorporate the same under their portfolio. Given that they already have technologically advanced with Mirco Hybrids and now Reva’s Electric technology, they are the hidden tigers at present who are all set to prowl in a year or two with brilliant products.
Ssangyong is good products in the SUV area though it only has a 2% overall market share in Korean market. This is where M&M finds solace with Ssangyong. The design language too can be an inspiration for future M&M cars. Its high time we saw a new Scorpio. Common guys, give us something more awe-inspiring stuff.
Their intentions were made clear when they put a competing bid for Jaguar Land Rover which eventually went to Tata Motors. They winning the bid was largely thanks to the Tata bid of Daewoo Commercial Motors and the successful turn around, which instills confidence in Indian firms among Korean markets. This a tit-a-tale effect, since Koreans are already making very big money from India and now Indian companies are going the Korean way.
We will see a few products coming our way and I hope Mahindra brings them far quickly. Interesting products that Mahindra could bring in India from the existing portfolio of Ssangyong: Rexton, Kyron and Actyon. The Chairman sedan is unlikely to make it here.
You can vote for this post at the IndiBlogger IndiVine